World Bank Flash: Turn Down the Heat - Why Tackling Climate Change Matters for Development
November 19, 2012
“Lack of action on climate change threatens to make the world our children inherit a completely different world than we are living in today. Climate change is one of the single biggest challenges facing development, and we need to assume the moral responsibility to take action on behalf of future generations, especially the poorest.” World Bank President Jim Yong Kim, November 19, 2012
Turn Down the Heat, a snapshot of the latest climate science prepared for the World Bank by the Potsdam Institute for Climate Impact Research and Climate Analytics, says we are on a path to a 4 degree Celsius (7.2°Fahrenheit) warmer world by the end of this century under current greenhouse gas emissions pledges. Consequences could be devastating:
While all regions of the world would suffer – some more than others –the poor will suffer the most. The report notes, however, that a 4°C warmer world is not inevitable and that with sustained policy action warming can still be held below 2°C (3.6°F)
HOW WE ARE HELPING
The World Bank believes that a 4 degree Celsius warmer world can, and must be, avoided. The problem of climate change needs to be tackled more aggressively and requires a response that puts the world on a new path to climate smart development and shared prosperity. Greater adaptation and mitigation efforts are essential and solutions exist.
The World Bank isn’t waiting. At their request, the World Bank is helping 130 countries take action on climate change: from replacing 45 million inefficient light bulbs in Mexico, to providing solar energy for 1.4 million homes in Bangladesh, to supporting 7.8 million rural inhabitants in Ethiopia through safety nets in response to droughts. Last year, all Bank Country Assistance/ Partnership Strategies addressed climate resilience.
The World Bank works with countries to assess and manage risks from climate change and provides analytical guidance:
To act effectively on climate change, many sources of funding are needed and innovation is necessary to fill the large financing gap: Providing financing for climate change is a priority for us.
The World Bank has made a clear choice in favor of supporting developing and emerging market countries investing in renewable energy and energy efficiency.
Our work on Climate Smart Agriculture focuses on a triple-win: carbon sequestration, food security and climate resilient livelihoods. The Bank is assisting cities to help build climate resilience and reduce greenhouse gas emissions.
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